Coforge has announced the acquisition of Encora for an enterprise value of $2.35 billion, a strategic consolidation set to create a combined tech powerhouse with annual revenues approaching $2.5 billion.
On Friday, PNB shares witnessed some pressure, closing 0.50 per cent lower at Rs 120.35 on the BSE against the previous close of Rs 120.95.
PNB Housing Finance shares: After strengthening its retail asset franchise over FY24–25, PNB Housing Finance had shifted focus towards improving profitability.
Shukla, 52, will assume charge from December 18, 2025, for a five-year term, subject to shareholder approval. The company confirmed that he is not debarred from holding the office of director by any Sebi order or directive from any other authority.
Nuvama noted that speculation about a potential FII limit hike has circulated for several years, though its timing remains uncertain.
MOFSL said PNB Housing delivered an in-line performance in Q2, although earnings were a beat primarily due to the ECL release of Rs 70 crore from the foreclosure of a standard corporate account.
PSU bank stock: MOFSL has tweaked its earnings estimates and now expect RoA and RoE at 1.03 per cent and 15.4 per cent, respectively, in FY27. It suggested a target price of Rs 135 on the stock.
Morgan Stanley is positive HDB Financial, PNB Housing Finance and Can Fin Homes, as final regulations on Forms of Business and Prudential Regulationas removes overhang of a forced stake sale by promoters.
SBI is seen as major beneficiary with $466 million in passive inflows, as its current FII holding stands roughly at 10 per cent. Indian Bank could be fresh inclusion to MSCI indices and may attract $177 million inflows.
PSU bank stocks: Nuvama Institutional Equities continued to prefer BoB, SBI, and PNB, which are likely to deliver relatively strong return on assets (RoA).
MOFSL reiterated its 'Buy' rating on PNB with a target price of Rs 130, noting that the stock trades at a discount to private players and some public sector peers.





